Suncor moves on gas station plans, deciding which to renovate and which to sell

to oust several directors at the major oil sands producer and explore a sale of its Petro- Canada gas-station chain.

The goal of that strategy is to deliver $200-million in marginal growth by 2026. It includes expanding quick-serve restaurant offerings and express formats and, under a new partnership, rebranding more than 200 Canadian Tire gas stations to Petro-Canada. Underperforming gas stations will be sold at a rate of around 10 a year, Suncor’s vice-president of downstream operations, Dave Oldreive, told analysts Tuesday during a business update.

Instead, Mr. Kruger pointed to bumper production and operational performance, and the company’s quest to add an additional $3.3-billion of free cash flow per year by the end of 2026, reducing the break-even cost of a barrel of oil by US$10.took the reins“Going back in recent history, Suncor needed to change. It was evident in our performance, evident to those both internal and external to the company,” he said.

Executive management listed a ream of ways it plans to save money and increase profits, including reduced capital spending, a better maintenance strategy, more autonomous haul trucks and improved performance at its oil sands sites.

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